Geode Capital Management LLC has recently announced that it has increased stake in Adobe Inc (NASDAQ:ADBE) by 0.48%. After grabbing 9.81 million shares, the institutional investor is now in possession of 46789.0 shares of the Technology Company. The new investment brought the stake of investor firm to 2.15% having worth around $5.85 billion. Moreover, JPMorgan Investment Management, I increased its share by 0.61 million to have a control over 6.4 million shares. And T. Rowe Price Associates, Inc. raised its holdings to 1.57 million shares by acquiring 5.3 million shares or 1.16% of the stake.
Adobe Inc (ADBE) concluded trading on Wednesday at a closing price of $606.48, with 2.96 million shares of worth about $1.8 billion changed hands on the day. Half year performance of the stock remained positive as price took a surge of 15.45% during that period and On Wednesday, January 24 the price saw a gain of about 1.56%. Currently the company’s common shares owned by public are about 455.00M shares, out of which, 449.00M shares are available for trading.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 235 times over the past 12 months. They bought 86,698 shares in 109 of the transactions. In 126 selling transactions, insiders dumped 136,391 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Invesco QQQ Trust are the top 3 mutual funds which are holding stakes in Adobe Inc Vanguard Total Stock Market ETF is currently holding 14.29 million shares of worth totaling $8.53 billion. The company recently came buying 2944.0 shares which brought its stake up to 3.14% of the company’s outstanding shares. Vanguard 500 Index Fund bought 8403.0 shares, after which its hold over company’s outstanding shares expand to 2.44%, leaving 11.12 million shares with the mutual fund that have a worth of about $6.63 billion. Invesco QQQ Trust, after selling 8.37 million shares, have now control over 1.84% of the stake in the company. It holds 21489.0 shares of worth $5.0 billion.
However, the stock later moved at a day high price of 616.95, or with a gain of 1.56%. Stock saw a price change of 1.74% in past 5 days and over the past one month there was a price change of 1.06%. Year-to-date (YTD), ADBE shares are showing a performance of 1.66% which increased to 66.17% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $318.60 but also hit the highest price of $633.89 during that period. The average intraday trading volume for Adobe Inc shares is 2.87 million. The stock is currently trading 2.62% above its 20-day simple moving average (SMA20), while that difference is up 1.05% for SMA50 and it goes to 18.86% higher than SMA200.
Geode Capital Management LLC acquired 9.81 million shares of Adobe Inc having value of about $5.85 billion. Data submitted at the U.S SEC by Geode Capital Management LLC revealed that the firm now holds 46789.0 shares in the company valued at close to $28376592.72, or have control over 0.48% stake in the company. Adobe Inc (NASDAQ: ADBE) currently have 455.00M outstanding shares and institutions hold larger chunk of about 83.18% of that. Holding of mutual funds in the company is about 34.95% while other institutional holders and individual stake holders have control over 48.48% and 0.64% of the stake respectively.
The stock has a current market capitalization of $274.13B and its 3Y-monthly beta is at 1.33. PE ratio of stock for trailing 12 months is 51.31, while it has posted earnings per share of $11.82 in the same period. Its PEG reads 3.58 and has Quick Ratio of 1.34 while making debt-to-equity ratio of 0.25. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ADBE, volatility over the week remained 2.89% while standing at 1.83% over the month.
Analysts are in expectations that Adobe Inc (ADBE) stock would likely to be making an EPS of $4.38 in the current quarter, while forecast for next quarter EPS is $4.38 and it is $20.36 for next year. For the current quarter EPS, analysts have given the company a lowest target $4.25 which is $4.5 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $3.8 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 11.63% while it is estimated to increase by 13.35% in next year. EPS is likely to shrink at an annualized rate of 14.32% for next 5-years, compared to annual growth of 17.86% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Exane BNP Paribas on January 18, 2024 offering an Underperform rating for the stock and assigned a target price of $499 to it.
